Professional Indemnity insurance will cover you if a client has made a claim against you due to work you have done for them and any mistakes you may have made. If you are a contractor then you’ll have many legal responsibilities and you have a financial responsibility for any mistakes made to your client, therefore it is important to have contactor indemnity insurance or professional liability insurance.
You can compare Professional Indemnity Insurance online at Compare Crazy and find the best policy to meet your requirements. Professional indemnity insurance quotes can vary in terms of cost and also what is covered, so by using a comparison site, you can not only find affordable cover, but the most appropriate cover.
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Professional Indemnity insurance is also known as PI Insurance and it is there to protect professionals and their businesses against claims made by their clients. Policies can cover legal costs and expenses for mistakes incurred and clients can be compensated for any errors which caused a financial loss. Professional Indemnity insurance can give you financial backing to take any claims made against you to court and find a just solution.
If your business involves selling knowledge, advice or skills, then you may need Professional Indemnity Insurance. Cover can be provided for all types of industry and trade including Accountants, Solicitors, Architects and Surveyors. Many businesses are required to have Professional Indemnity Insurance cover and need to have it in place to protect them financially in the event of a claim being made against them.
The cost of UK PI Insurance depends on the type of business you have and factors such as business turnover, location and level of risk will be taken into consideration to determine the premium. Insurance brokers can help you find a cheap policy and the adequate level of cover that you require. For a competitive professional indemnity insurance quote, click on ‘Start Quote’ and find cheap cover for your business.
Professional Indemnity insurance can protect your business against compensation sought by a client and can cover risks such as;
If a claim is made against you, then PI Insurance will protect your financial interests and cover the legal costs even if the claim against you isn’t valid. You can compare PI Insurance online at Compare Crazy to find the right cover to suit your business.
If a client makes a claim against you and you were to lose, then you are required to pay all the costs. Without Professional Indemnity Insurance, you will not be covered in respect of legal liability to work carried out by your business. Some professions do not require PI insurance; however some choose to take out this insurance to meet client requirements.